A source from a Brazilian exporter told SteelOrbis that wire rod prices will increase by 12 percent from December 1, for both domestic and export sales.
With the increase, the price of mesh grade product is set to reach $524/mt, while for the drawing grade the price will reach $605/mt, both prices FOB conditions for export.
In October, for price deals probably closed in August, the mesh grade was exported in average at $454/mt, while the drawing grade was exported at $492/mt, both FOB conditions.
The main exporters were Gerdau (9,700 mt) and ArcelorMittal (7,100 mt).